Sloan’s Ice Cream Selects BoeFly To Assist Its Franchisees In Obtaining Bank Financing

Jan. 4, 2013 - PRLog -- NEW YORK, N.Y. – BoeFly, the premier online marketplace connecting small business borrowers with lenders and a strategic ally of the International Franchise Association to expand credit access within the franchise community, announced today that Sloan’s Ice Cream, South Florida’s palatial ice cream, candy and toys paradise, has selected BoeFly to assist its franchisees in obtaining bank financing.

In a recent International Franchise Association (IFA) survey of its members, nearly half (49.2 percent) identified “financing/access to credit” as the top issue of concern for franchise business leaders. In response to this, and bolstered by its success in helping many individual franchisees obtain financing, BoeFly created a portfolio of services for the franchisor market. Through BoeFly, they can offer franchisees access to a network of lenders through the posting of a single loan request on BoeFly’s Internet-based loan exchange, assistance in creating an effective loan request, and support managing lender inquiries. BoeFly uses proprietary matching technology to connect franchisees with lenders.

Sloan Kamenstein founded Sloan’s Ice Cream in 1999 in West Palm Beach, Fla. Since then, Sloan’s Ice Cream shops have become destination favorites for South Florida residents and visitors alike. Plush toys line the walls, Sloan’s homemade sweets fill the countertops, and rich original ice cream flavors are served, made from the finest ingredients. Now, Sloan and his leadership team are launching an aggressive franchise growth strategy targeting Florida, California, the Carolinas, Georgia, New York and New England, along with additional areas nationwide. Sloan’s has already signed two franchising agreements, one with a franchisee in Southern California, another in South Florida. Company projections call for the first franchised Sloan’s Ice Cream shops to be near completion in early 2013, with additional openings throughout the year. Sloan’s anticipates a total of approximately 200 U.S. locations in the coming years.

“Everything about Sloan’s has been well thought out,” said David Wild, Sloan’s director of franchising, “From our twinkling chandeliers and mouthwatering display cases, to the posh pink walls and ceilings, coming to Sloan’s is an escape from reality. With our planned expansion, we’re excited to offer BoeFly to support and position our franchisees to obtain financing.”

“Every franchisor faces significant challenges,” said Mike Rozman, co-president of BoeFly. “Franchise lending has been down by as much as 40 percent in the past two years due in part to the inefficiencies in the lending process that have been exposed by the financial crisis. BoeFly eliminates these inefficiencies by connecting franchisees with banks that are ready and willing to lend.”

About Sloan’s Ice Cream

A true icon of South Florida, Sloan’s is renowned for its award winning luxury ice cream flavors, candies and world-class bakery items. The brand’s signature pink walls and ceilings, along with the plush toy collection lining its walls add to Sloan’s fun, funky experience. In 1999, Sloan Kamenstein, a classically trained chef and ice cream connoisseur, created Sloan’s along West Palm Beach Florida’s famed Clematis Street. Under his guidance, the brand has grown to four locations in West Palm Beach, Palm Beach Gardens, and Boca Raton. In mid-2012 Sloan’s began franchising with qualified operators and investors to strategically grow the brand and share more of its magic with a growing national and international following. For more information about Sloan’s, visit www.sloansicecream.com. You can follow Sloan’s on Twitter @SloansIceCream and connect with Sloan’s on Facebook at http://facebook.com/SloansIceCream.

About BoeFly

BoeFly makes it easier to obtain small business loans (http://www.boefly.com/) by reducing the time, cost, complexity, inefficiency and frustration associated with small business lending.  Its online proprietary matching technology connects small business borrowers with multiple lenders from among its over 2,400 participating banks, based on the lending profiles provided by the banks and the information provided in the borrower’s loan request.

Borrowers build a complete decision-ready loan request online using BoeFly’s exclusive “SmartForm” technology which, when completed, provides the information that over 2,400 lenders nationwide indicated to BoeFly they want to see before moving forward with a loan request. The SmartForm is easy to use and guides borrowers through the process. Once BoeFly’s matching technology identifies compatible lenders, borrowers then have complete control over which lenders can instantly access their loan request.  Using BoeFly, borrowers can connect with multiple lenders quickly and easily, providing a greater probability of obtaining a loan, as well as more favorable loan terms resulting from the creation of a competitive marketplace.   Lenders benefit by being presented with only those loan requests that fit their lending profile, dramatically lowering their cost and time of origination.   BoeFly is not a broker.  Borrowers pay a small one-time fee and lenders pay an ongoing subscription fee; BoeFly never charges transaction or referral fees.

BoeFly, now a strategic ally of the International Franchise Association to expand credit access within the franchise community (http://www.boefly.com/ifa.cfm), Franchise Solution brings these benefits to the large and growing small business franchisee community and is the choice of over 125 brands including Dunkin’ Donuts, Carl’s Jr., Express Personnel and Kiddie Academy, among many others.

BoeFly’s Affiliate Solution is the financing exchange chosen by the Association of Small Business Development Centers, representing approximately 1,000 centers nationwide, which are funded in part by the U.S. Small Business Administration, to serve small businesses, and Franchise Gator, the leading site for information on franchise opportunities.

BoeFly was founded by small business owners and small business lending experts with extensive small business lending experience. The company is privately-held and is based in New York City. http://www.boefly.com.

Media inquiries:

Bill Fallon/ Keating Co. /212.925.6900/ bfallon@keatingco.com